IRS: Microsoft owes $28.9 billion in back taxes

Tech giant Microsoft owes Uncle Sam nearly $29 billion, according to the IRS. The appeals process will "take years," reports NBC News.

Microsoft said the dispute concerns the company's allocated profits between countries and jurisdictions between 2004 and 2013. It said up to $10 billion in taxes that the company has already paid are not reflected in the proposed adjustments made by the IRS.

Microsoft plans to contest the notices through the IRS' administrative appeal and is willing to go to judicial proceedings, if necessary.

All those new IRS agents were a bargain, even if some of them spend their entire careers working on this one bill.